Jargon Watch: “Green Shoots” of Recovery

Thanks to Bill Easterly for noticing that Chauncey Gardner is In the House. G7 officials are now telling us they see “green shoots” of recovery. Can’t you just imagine this behind-the-scenes conversation at the summit?

President “Bobby”: Mr. Gardner, do you agree with Ben, or do you think that we can stimulate growth through temporary incentives?
[Long pause]Chance the Gardener: As long as the roots are not severed, all is well. And all will be well in the garden.President “Bobby”: In the garden.Chance the Gardener: Yes. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again.President “Bobby”: Spring and summer.Chance the Gardener: Yes.President “Bobby”: Then fall and winter.Chance the Gardener: Yes.Benjamin Rand: I think what our insightful young friend is saying is that we welcome the inevitable seasons of nature, but we’re upset by the seasons of our economy.Chance the Gardener: Yes! There will be growth in the spring!Benjamin Rand: Hmm!Chance the Gardener: Hmm!President “Bobby”: Hm. Well, Mr. Gardner, I must admit that is one of the most refreshing and optimistic statements I’ve heard in a very, very long time.
[Benjamin Rand applauds]President “Bobby”: I admire your good, solid sense. That’s precisely what we lack on Capitol Hill.

Actually, this level of analysis can also be found at the typical graduate macroecomomics seminar. Oops, did I say that?